Step-By-Step Procedure to Calculate Bike Insurance Premium Online

Buying a bike insurance policy can be a bit overwhelming for anyone who is new to the insurance sphere. There are several terms and jargon’s to get your head around, not to mention the features and benefits on offer. With all these at the back of your mind, the most obvious questions are, can you buy one on your own? What should you do in such scenarios?

The answer lies in a bike insurance calculator.

If you have set out to buy a new policy for your bike or want to renew one, using a bike insurance calculator can be more helpful than you can possibly imagine. But before we get to the workings of a calculator, understanding it is essential.

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What is a Bike Insurance Calculator?

The name almost gives away the definition. Insurance calculators are online tools that insurers offer to make the entire policy buying process simple.

The tool will help you calculate the premium for your bike even before buying one. This feature is mostly available for bikes that have been registered with an RTO.

As is the case with any calculator, you would need to provide some basic information such as bike details and then hit that calculate button. The insurer would then calculate the approximate premium for the details that you have provided and offer you a premium quote. You can then choose to buy the policy from that point forward.

Steps to Use a Bike Insurance Calculator

Using a two wheeler insurance premium calculator is a simple process. You can receive quotes from one or more insurer within a few minutes and then take a call as to which policy suits your needs and budget.

What makes these calculators even more interesting is the fact that you can revisit them and change a few parameters and see how your policy premiums would vary accordingly.

Here are all the steps that you would have to follow.

• Visit the website of an insurance company.
• Look for a link to buy or renew two wheeler insurance.
• Select from one of the three options, buy a new policy, renew policy from the same insurer or renew a policy that you hold from a different insurer.
• Provide your basic contact information such as email id, phone number and of course your name.
• You would then need to provide details of your bike such as manufacturer name and model, engine capacity, engine number, chassis number, year of registration etc.
• The website will then calculate the premium of policy accordingly.
• You now have the option to change the Insured Declared Value or the type of insurance or choose to buy the policy for 1, 2 or 3 years.
• If you wish to enhance the coverage of your policy, this is the time to attach an add-on and see how that impacts your policy premium.
• In the event you are caught up with some other tasks, you can save the changes and come back at a later point in time.
• Should you be happy with the quote and offerings, you can proceed with buying the policy.

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Benefits of an Insurance Calculator

When you use a two wheeler insurance premium calculator, you have the option to review the policy quote along with its features. Thus, enabling you to take a decision at your own pace and not a hurried one. With the help of a bike insurance calculator, you can also compare bike insurance.

You can visit a couple of insurers and get a quote and compare bike insurance policies on offer. A policy that offers most of the features that you are looking for and doesn’t cost a lot should be your pick.

Calculators and even comparison tools can be very handy given the busy nature of work that most of us are involved in these days. You would just need to spare a few minutes and use a calculator to buy a better policy.